Is Phoenix, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Phoenix was a Buyer's Market.
Key Takeaway
Phoenix is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Phoenix, MD
How much do homes in Phoenix, MD cost?
Median Sold Price
$731,250
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Phoenix have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Phoenix was $731,250 in March 2024, up 6.5% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $622.5K | N/A |
| 3 Bedrooms | $478.5K | $613.7K | +28.3% |
| 4 Bedrooms | $651K | $704.5K | +8.2% |
| 5+ Bedrooms | $905K | $925K | +2.2% |
Summary: Phoenix housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 28.3%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Cities
| Baldwin | $583K | $678K | +16.3% |
| Cockeysville | $388K | $449.9K | +16.0% |
| Phoenix | $686.5K | $731.2K | +6.5% |
| Glen Arm | $615K | $600K | -2.4% |
Housing Supply in Phoenix, MD
How many homes are available in Phoenix, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 37 | 44 | +18.9% |
Summary: The Phoenix real estate market had 44 homes for sale in March 2024, a 18.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 17 | 21 | +23.5% |
| 5+ Bedrooms | 13 | 17 | +30.8% |
Summary: The Phoenix housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes increased by 30.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Phoenix, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Phoenix in March 2024, up by 16.7% month-over-month. Of the 7 sold homes, 0% were sold under asking, 57% were sold at asking, and 43% were sold over asking.
Days on Market for Phoenix, MD
How long does it take to sell a home in Phoenix, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 7 Days | 17 Days | +135.0% |
Summary: Homes in Phoenix had an average of 17 days on market in Mar 2024, up by 135% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Phoenix are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in Phoenix; 86% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
